About this Deal
|Sears was once the dominant retailer in the country, but in recent years, that popularity has declined. While many retailers are thriving in the currently booming economy, there are a few others that are following Sears' footsteps into bankruptcy. Here are a few:|
JCPenney also used to be one of the dominant department stores with hundreds of stores across the country. Except for 2016, JCPenney has lost money every year since 2012 and is expected to post losses this year and next. They currently have $4 billion in debt, with $42 million of that debt due within the next year.
2. Stage Stores
Stage Stores operates under brands such as Bealls, Goody's, and Palais Royale. They've been losing money since 2016, with a net loss of $34-$41 million this year.
3. Barnes & Noble
Booksellers struggle in the e-commerce era. Amazon built a monopoly in the industry, forcing Barnes & Noble, the leading brick-and-mortar bookseller, into a fight for its life. Sales have fell for 11 consecutive years.
4. Stein Mart
While Stein Mart may be aligned for a turnaround, the money they owe within a year is nearly equal its current assets.
5. J. Crew
J. Crew posted a loss of $125 million last year. Sales have also slipped for the last three years, which may mean the end is closer than you would think.
6. Neiman Marcus
Neiman Marcus has also seen a sales decline, falling 5% in 2017. The store also has a $4.8 billion debt, which they are began talks with creditors to restructure.
7. Rite Aid
The nations number 3 drugstore chain continues to slide. Rite has an increasingly weakening position in the drugstore sector.
To find out more, read the article at MSN.